Jason Collins reviews HMRC’s proposed data-gathering powers
The leading tax bodies have updated their joint guidance for tax advisers on professional conduct in relation to taxation. It was last updated in 2006, and the latest version has been the subject of discussion since 2007.
HMRC is reminding taxpayers filing a tax return online for the first time that, when they have registered for the service via www.hmrc.gov.uk/online, a user ID and an activation code will be posted to them ‘within seven working days’.
The Tax Treatment of Financing Costs and Income (Correction of Mismatches) Regulations, SI 2010/3025, are intended to address specific cases of mismatches between financing expense amounts and the ‘available amount’ in respe
The Finance Act 2010, Schedule 17 (Appointed Day) Order, SI 2010/3019, appoints 1 January 2011 as the day on which the amendments to FA 2004 Part 7 (disclosure of tax avoidance schemes) come into force.
The Value Added Tax (Amendment) (No. 4) Regulations, SI 2010/3022, amend the Value Added Tax Regulations, SI 1995/2518.
HMRC is planning a programme of pre-return ‘business records checks’ to review the adequacy and accuracy of records in the small and medium enterprise (SME) sector. Poor record keeping is a problem in around two million SME cases, the department estimated.
HM Revenue and Customs is ‘trialling’ the use of Twitter in the run up to the tax return deadline on 31 January.
‘Retailers are bracing themselves for a deterioration in trade in the coming year as the government’s VAT increase, coupled with swingeing spending cuts, put people off spending on the high street.’